An innovative energy company that creates lower carbon fuel is committed to making environmental gains and sustainable returns for their shareholders, customers, and communities through a cleaner approach for everyday fuels. Working to update their robust sustainability and Environmental, Social, and Governance (ESG) program, the company was looking to evaluate and enhance their ESG initiatives and goals.
Geosyntec's Scope of Services
Working closely with our client's internal team, Geosyntec conducted a due diligence exercise, including review and assessment of EHS practices and standards, benchmarking against peers and competitors, and research efforts to form the basis of an ESG risk program, facilitate a gap assessment and determine what additional opportunities could be captured in their ESG portfolio. A materiality assessment guided by Geosyntec allowed our client to review and refresh ESG topics most relevant to the company's business strategy, identify relevant stakeholder information, and formalize key metrics and practices to meet the company's ESG performance standards.
Building on the materiality and benchmarking exercises, Geosyntec conducted a stakeholder mapping exercise with our client's key internal stakeholders to establish a baseline from which the company can build a robust community engagement plan. The purpose of the mapping exercise is to identify representative external stakeholders in local communities where the company operates, including emergency responders, local governmental agencies, community leaders, academia, and local nonprofits and community-based organizations. By aligning community findings with the established ESG performance standards, Geosyntec was able to enhance the ongoing Community and Stakeholder Engagement framework, while outlining its formal grievance mechanism, and plan for the company's specific needs.
Additionally, Geosyntec completed a cumulative impacts risk assessment, which included a Human Rights Assessment and Indigenous People's Assessment to manage construction projects (both short- and long-term) throughout the project lifecycle. Finally, alignment working sessions were hosted to finalize the stakeholder roadmap and implementation of the established action plan for the construction and operational phases of the company. The final ESG action plan included the assessment of the company and its project's key priorities, metrics and associated Key Performance Indicators (KPIs), based on the material ESG performance standards evaluation and the risk assessment conducted to prioritize its actions.
Based on Geosyntec’s comprehensive ESG action planning process, the energy company is well-positioned to effectively enhance their ESG performance and execute on specific environmental and social management plans. The energy company’s ESG Management team will be in a continuous improvement mindset, using the plan-do-check-act model as it monitors and evaluates ongoing performance with tools designed to fit the company’s specific business strategy and goals.
- Location: United States
- Client: Confidential
- Project Practice Areas: Environmental Management
- Type of Facility: Industry Standards
- Services Provided: ESG Program Report and Action Plan, Benchmarking and Research Initiatives, Materiality Assessment, Community and Stakeholder Engagement, Risk Assessment and Opportunities Plan
- Type of Work: ESG Program Support
- Governing Regulation: Energy